The contraction in the domestic market causes many companies to face difficulties due to the increase in credit costs and high interest rates. While many companies are trying to survive by using loans, high interest rates can cause companies to close their operations.
Unless interest rates decrease, it seems inevitable that this contraction will continue, which reflects negatively on the rebar sector and causes prices to decrease. Local rebar prices remained flat at $582-607/$/t EXW during the week, although prices varied across regions. In the Izmir region, rebar prices were $583/mt, while in the Marmara region they were $600/mt ex-mill. Icdas has kept its official rebar price unchanged at $600/mt in dollar terms, while buyers can buy at $590/mt.
On the other hand, the contraction in the markets, coupled with the anti-dumping duty imposed on China, could lead to higher prices. However, foreign customers' weak interest in Turkish export rebar offers continues to weigh on prices. Offers for August shipments decreased to the $575-585/ton FOB range compared to $575-590/ton FOB levels seen a week ago.
While lower demand is cited as the main reason for the fall in rebar prices, fluctuations in exchange rates are also having an impact on prices. This situation brings difficulties both in the domestic market and in export markets.
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